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Saratoga Investment Corp. (SAR)

BDC - Debt Focused BDC

Data as of Sept. 29, 2023
Market Price $25.70 (+ $0.03)
NAV (May 31, 2023) $28.48 ( $0.00)
Fund Listed NYSE
Premium / Discount -9.76% (+0.11%)
Fund Info
Inception March 23, 2007
Sponsor Saratoga Investment Advisors
Website www.saratogainvestment...
Phone 212-906-7800
Location New York
Incorporated Maryland
Staggered Board No
Term Date N/A
Objective: Attractive risk-adjusted returns by generating current income from its debt investments and capital appreciation from its equity investments in middle market companies.
Related Indexes
Debt-Focused Business Development Company (BDC) Index
Capital & Leverage
Outstanding Shares 11,979,781
Total Assets (Reported: May 31, 2023) $1,146M
Estimated Total Assets $1,098M
Net Assets $341M
Market Cap $308M
Portfolio Turnover 4.36%
Debt-to-Equity 1.7568
Total Leverage 68.94%
Structural Leverage (out of total) 100.00%
Portfolio Leverage (out of total) 0.00%
Expense Ratio 21.83%
Non Lev Exp Ratio 8.16%
Gross Asset Expense Ratio 6.52%
Gross Asset Non Lev Exp Ratio 2.44%
Rel Lev Cost 5.92%
Discount Data
Average Discount (3 Yr) -10.51%
Discount Low(3 Yr) -37.07%
Discount High(3 Yr) 2.87%
Discount Rel Range (3 Yr) 68.38%
Comp Discount -3.77
Discount St Dev (1Yr) 6.64
Z-Stat (6mo) -0.05
Z-Stat (1Yr) 0.13
Z-Stat (3Yr) 0.10
Comp Z-Stat (6mo) -0.53
Comp Z-Stat (3Yr) -0.01
Distribution Data
Market Yield 11.05%
Income Yield 11.05%
Lev Adj NAV Yield 5.90%
Av Yield on Debt Investments 11.40
Distribution Frequency Q
Current Distribution $0.710
Current Income $0.710
Ex-Date 9/13/23
Payable Date 9/28/23
Div Growth (3yr) 77.50%
Dividend Change 1.4% on 8/14/23
Expected Div 11/16/23
RoC (1yr) 0.00%
RoC (3yr) 0.00%
Volume & Liquidity
Average Daily $ (K) $3,020
Avg Volume 30 day 119,387
Avg Volume 90 day 117,527
Volume Trend 1.58%
Comp Volume Trend -4.16%
Correlation & Volatility
Price Correlation (1yr)
vs. S&P 500 (TR)
Price Correlation (1yr)
vs. CEFA's 12 Major CEF Sectors Index
Price Correlation (1yr)
vs. CEFA's BDC Index
Most Correlated Peer (Mk Pr): BBDC 75.0%
Price St Dev (1Yr) 26.7%
NAV St Dev (1Yr) 4.1%
Earnings / Share (5/31/23) $1.347
Adj Core NII Coverage 152.75%
1 Yr Avg NII Coverage 138.02%
1 Yr Avg Adj Core NII Coverage 129.38%
NII Trend 46.33%
Adj Core NII Trend 52.57%
Price Beta (2yr)
vs. S&P 500 (TR)
Price Beta (2yr)
vs. CEFA's 12 Major CEF Sectors Index
Price Beta (2yr)
vs. CEFA's Debt-Focused Business Development Company (BDC) Index
Portfolio Data
Avg Libor Floor % %
% Loans with Libor Floor 0%

DISCLOSURES: makes data for the universe of closed-end funds (CEFs) and business development companies (BDCs) available to its users. This material is not intended to be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities and should not be considered specific legal, investment or tax advice. This site does not list all the risks associated with each fund. Investors should contact a fund’s sponsor for fund-specific risk information and/or contact a financial advisor before investing.

NOTES: Distribution type sourced from For specific information about a fund's distribution sources, visit the fund sponsor's website.

The following information applies to closed-end funds and business development companies in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation (FDIC). Shares of closed-end funds (CEFs) and business development companies (BDCs) are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds and business development companies frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

This material is presented for informational purposes only. Under no circumstances is it to be considered an offer to sell, or a solicitation to buy any investment referred to on this page. While the information contained herein is from sources believed reliable, we do not represent that it is accurate or complete and it should not be relied upon as such. Past performance is not necessarily indicative of future results. All investments involve risk including the loss of principal. Returns are presented gross of investment management fees and other appropriate fees (i.e. commissions, custodial fees, etc.).

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